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We invite you to listen to us on great radio stations across the region on the Radio Oklahoma Network weekdays- if you missed this morning's Farm News - or you are in an area where you can't hear it- click here for this morning's Farm news from Ron Hays on RON.
Let's Check the Markets!
OKC West is our Market Links Sponsor- they sell cattle three days a week- Cows on Mondays, Stockers on Tuesday
and Feeders on Wednesday- Call 405-262-8800 to learn more.
Today's First Look:
mornings with cash and futures reviewed- includes where the Cash Cattle market stands, the latest Feeder Cattle Markets Etc.
Thursday's Boxed Beef Prices saw Choice Beef Drop $15.07 to $450.92 while Select Beef up 16 cents to $437.40- the complete report from USDA Market News is Available Here.
Okla Cash Grain:
Woodward Livestock Market had a run of 6.204 head on Thursday-
Feeder steers steady to 4.00 lower. Feeder heifers 2.00 to 4.00 lower. Steer calves lightly tested but a stronger undertone noted. Heifer calves steady. Click here for the complete report from USDA Market News.
Futures Wrap:
Feeder Cattle Recap:
Slaughter Cattle Recap:
TCFA Feedlot Recap:
Our Oklahoma Farm Report Team!!!!
Ron Hays, Senior Farm Director and Editor
KC Sheperd, Associate Farm Director and Editor Sam Knipp, Farm Editor Pam Arterburn, Calendar and Template Manager Dave Lanning, Markets and Production
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Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Friday, May 15, 2020
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Howdy Neighbors!
Here is your daily Oklahoma farm and ranch news update.
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Every year the budget holds center stage during the Oklahoma legislative session and this year it took on even a bigger role as lawmakers in a rare move overrode Gov. Stitt's veto and passed a budget that is not great but is something we can work with, said Steve Thompson, senior director of public policy for the Oklahoma Farm Bureau.
Thompson and I spoke following the budget action.
This budget is not great but holds the line, Thompson said. There are some small cuts with the average for most agencies hovering around 4 percent.
The largest concern is where we will be at this time next year, Thompson said, as the reserve fund is running low.
This is the first time in my career the House and Senate leaders made the budget presentation, Thompson said. The governor's office really was not represented as they had communications issues during the last month.
The unusual budget maneuvering was just another of the strange things one can attribute to the Covid-19 shutdown.
We've missed much of the normal legislative process, Thompson said.
To hear my complete interview with Steve Thompson, and to read the rest of the story, click here: |
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Sponsor Spotlight
One of our great sponsors that helps provide you with this daily email is Oklahoma AgCredit.
"We are part of the rural communities we serve and understand that vibrant rural communities need strong, modern infrastructure. Farm Credit loans finance the rural infrastructure providers that provide reliable power, modern telecommunications, clean water, and other vital community services."
For more information, click here to go to our Oklahoma AgCredit website.
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U.S. Secretary of Agriculture Sonny Perdue today announced a final rule updating and modernizing the U.S. Department of Agriculture's (USDA) biotechnology regulations under the Plant Protection Act. The Sustainable, Ecological, Consistent, Uniform, Responsible, Efficient (SECURE) rule will bring USDA's plant biotechnology regulations into the 21st century by removing duplicative and antiquated processes in order to facilitate the development and availability of these technologies through a transparent, consistent, science-based, and risk-proportionate regulatory system.
This new rule will help provide America's farmers access to these critical tools to help increase agricultural productivity and sustainability, improve the nutritional value and quality of crops, combat pests and diseases, and enhance food safety.
"Under President Trump's leadership, USDA is implementing the first significant update to our plant biotechnology regulations in more than three decades," said Secretary Perdue. "USDA's SECURE rule will streamline and modernize our regulatory system, facilitate science-based innovations, and provide our farmers with the tools they need to produce the world's safest, most abundant, and most affordable food supply, which will help us continue to Do Right and Feed Everyone - safely."
The National Sorghum Producers CEO Tim Lust offered this reaction to the rule announcement:
"We are pleased USDA has moved forward with the rulemaking process, following earlier guidelines to include new plant breeding technologies like gene editing and technologies like CRISPR. Plant breeding innovations are vital to sorghum producers and will play a fundamental role in our ability to produce more with fewer inputs and to compete in the global marketplace. By utilizing new techniques, products can be developed more efficiently, saving valuable time and resources."
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In the latest KCFED Ag Credit Survey Nathan Kauffman, Vice President and Omaha Branch Executive and Ty Kreitman, Assistant Economist write about how Agriculture in the Tenth District Feels Initial Effects of Pandemic
Agricultural credit conditions in the Kansas City Fed's Tenth District deteriorated at a slightly faster pace at the onset of developments related to COVID-19. The survey for the first quarter of 2020, distributed in mid-March, indicated a larger decline in farm income and loan repayment rates than in recent quarters. Looking ahead, bankers indicated their expectations were much more pessimistic. Beyond the survey period, further disruptions at meatpacking and food processing facilities and a substantial slowdown in ethanol production put heavy downward pressure on cattle and corn prices. Through early May, cash prices for both since January had declined more than 20 percent, adding pressure to already stressed farm finances in the seven states of the District.
Farmland Values
Farm income in the Tenth District weakened alongside a steep drop in agricultural commodity prices that began in March. The pace of decline in income was noticeably faster in the first quarter than in the previous quarter amid intensifying concerns related to COVID-19 (Chart 1). Spending by farm borrowers also weakened slightly, but less abruptly than farm income. Corn and cattle comprise a large share of total revenues in the region and as the survey began in March, prices of both had decreased about 15 percent since January. Even after the first quarter survey, the declines continued through early May, putting added downward pressure on revenues for producers.
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Moving at the pace of a giant sloth, areas of extreme drought (D3) are slowly expanding and moving ever closer to Oklahoma. Meanwhile, for the High Plains region, drought is intensifying across the southern tier from southern Colorado through western Kansas.
Severe drought (D2) covers much of southern Colorado and southwestern Kansas. This region has recorded less than one inch of precipitation during the past 3 months.
Currently almost 26 percent of Oklahoma is swathed in shades of yellow and light brown (D0-D4), which is about a 2.5 percent increase from last week and at the start of the calendar year. Severe Drought (D2) now covers all of Cimarron County and about one-third of Texas County in the Oklahoma Panhandle.
To read the complete drought monitor report, click here:
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Sponsor Spotlight
The vision of the Oklahoma Beef Council is to be a positive difference for Oklahoma's farming and ranching families and the greater beef community and its mission is to enhance beef demand by strengthening consumer trust and exceeding consumer expectations. To learn more, visit www.oklabeef.org. Also, don't forget to like its Facebook page at www.facebook.com/oklabeef for stories on Oklahoma's ranching families and great beef recipes.
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One billion dollars is a lot of money! That's the estimated value assigned to beef exports for U.S. cattle, says Dr. Derrell Peel, OSU livestock economist. Peel was one of several presenters in an on-line webinar this week coordinated by Texas AgriLife Extension, West Virginia University and North Dakota State University.
Global beef trade is growing, Peel said, especially in China as well as in Japan, Mexico, Canada and South Korea.
The OSU economist said trade is essential to maximize value.
It allows us to export things we don't have much demand for here in this country, Peel said. Those things include byproducts and certain low valued muscle cuts.
Trade with China is especially intriguing as Dr. Peel said even a small increase in exports adds up quickly.
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America's rural transportation system is in need of repairs and modernization to support economic growth and improve traffic safety in the nation's Heartland, but the US faces a $211 billion backlog in funding for needed repairs and improvements to the rural transportation system. This is according to a new report released today by TRIP, a national transportation research nonprofit. The report, Rural Connections: Challenges and Opportunities in America's Heartland, evaluates the safety and condition of the nation's rural roads and bridges and finds that the nation's rural transportation system is in need of immediate improvements to address deficient roads and bridges, high crash rates, and inadequate connectivity and capacity. The importance of the rural transportation system as the backbone of the nation's energy, food and fiber supply chain has been heightened during the response to the COVID-19 pandemic. Addressing the nation's rural transportation challenges will require a significant increase in investment, but the tremendous decrease in vehicle travel that has occurred due to the COVID-19 pandemic is estimated to reduce state transportation revenues by at least 30 percent - approximately $50 billion - over the next 18 months.
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Oklahoma State University Extension Grains Market Analyst Dr. Kim Anderson talks about what is going on in the Wheat Markets weekly on SUNUP.
This week Dr. Anderson says the May WASDE report came in pretty close to expectations. Anderson says, "If you look wheat in production for the United States it came in at 1 billion 866 million bushels, that's pretty close to what the pre release estimates was, you look at last year it was a little over 1.9 billion bushels. You look at the world 28.2 billion bushels that's a new record. The last year's record of 28.1 billion bushels." Anderson gives more analysis of the WASDE on this weeks SUNUP.
Click here to listen to Dr. Anderson's comments that will be featured this weekend on SUNUP- and you can also check the full lineup for this weekend's show by going over to our web story that features Dr. Anderson's comments.
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NMPF Applauds Robust Dairy Support in HEROES Act
As U.S. dairy farmers and their cooperatives continue to weather the unique storm of the COVID-19 pandemic, the National Milk Producers Federation today thanked the U.S. House of Representatives for supporting critical measures for dairy farmers and their industry partners in its HEROES Act slated for a vote later this week.
Dairy farmers continue to work around the clock to ensure a steady, healthy, and nutritious supply of milk. However, farmers have endured significant losses as the unprecedented collapse of foodservice markets has wiped out substantial dairy product demand. Dairy's fortunes have been especially grim given milk's perishability, and farmers of all sizes have suffered from these major losses.
NMPF appreciates that the HEROES Act includes multiple provisions to provide additional direct relief to dairy farmers based on the losses they face this year. The bill also includes NMPF-advocated provisions to strengthen opportunities for milk and dairy product donations to help farmers and consumers. Finally, the package provides important nutrition assistance to the millions of American families and households who are facing food insecurity during this difficult time.
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As You Wait for Our Next Road to Rural Prosperity
While you wait on our next Road to Rural Prosperity- you might check out recent episodes- including our visit with Brent Kisling of the Oklahoma Department of Commerce on the extreme importance of the 2020 Census.
Click here for that conversation that we had with Brent about his hopes for over 4 million to register in Oklahoma in the census that is now underway.
You can also head to Stillwater and listen to our conversation with Dr. Bailey Norwood as he talks with us about two of his classes that have a lot of relevance these days- one is the cutting edge Ag Econ Class on Supply Chains and the other is his popular Ag Literacy Class From Farm to Fork.
Click here for our Q&A with OSU Ag Economics Professor Dr. Bailey Norwood.
You might also scroll back and take a listen to one of my favorite conversations- the one we did Pre Coronavirus with Ag Teacher Travis Bradshaw- I think you will be inspired as you listen to this outstanding educator- click here for his story.
AND- here's the link for our full set of episodes to day- available here.
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Our thanks to Midwest Farms Shows, P & K Equipment, AFR Insurance, Oklahoma Farm Bureau, Great Plains Kubota, Stillwater Milling Company, Oklahoma Cotton Council, National Livestock Credit Corporation, Oklahoma Beef Council, Oklahoma AgCredit, the Oklahoma Cattlemens Association and KIS Futures for their support of our daily Farm News Update. For your convenience, we have our sponsors' websites linked here- just click on their name to jump to their website- check their sites out and let these folks know you appreciate the support of this daily email, as their sponsorship helps us keep this arriving in your inbox on a regular basis- at NO Charge!
We invite you to check out our website at the link below too that includes an archive of these daily emails, audio reports and top farm news story links from around the globe.
God Bless! You can reach us at the following:
phone: 405-473-6144
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